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Financial Statements of NPO

Select the ap...

Question

Select the appropriate alternative from the alternatives given below and rewrite the statement.
Recording of transaction in the journal is called __________.
a. Posting
b. Casting
c. Tallying
d. Journalising

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Solution

The General Journal is called the book of original entry and the process of recording transactions in the journal is called journalizing.

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Q. Select the most appropriate alternative from the alternatives given below and rewrite the statement.

Recording of transaction in the journal is called _____ .
a) Posting
b) Casting
c) Tallying
d) Journalising

Q. Select the appropriate alternative from the alternatives given below and rewrite the statement.
In a journal business transactions are recorded in ___ order.
a. Chronological
b. Alphabetical
c. Ascending
d. Descending

Q. Select the most appropriate alternatives from those given below and rewrite the statements :

Totalling of Journal or ledger is called as ______.
a) Posting
b) Folio
c) Casting
d) Journalising

Q. Select the appropriate alternative from the alternatives given below and rewrite the statement.
Journal is a book of ____ records.
a. Individual
b. Daily
c. Personal
d. Cash

Q. Select the most appropriate alternatives from those given below and rewrite the sentence :

All entries are posted from Journal to ________.
a) Ledger
b) Balance sheet
c) Trial balance
d) Cash A/c

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